Committed board leadership even more necessary in the face of political opposition
WASHINGTON D.C. / ACCESSWIRE / February 1, 2024 / Tapestry Networks‘ Inclusion, Diversity, and Equity in Action (IDEA) initiative, in partnership with Syndio, hosted a national series of discussions that included 60 board directors and executives from more than 100 leading companies, government agencies and institutional investors, including the US Department of Veterans Affairs, BlackRock, Lockheed Martin, CIGNA, AIG, and Sony, exploring the essential role of board oversight in advancing workplace equity and DEI priorities. A new report synthesizes insights from those conversations and highlights the need for courageous leadership in push equity agendas forward. Respondents addressed the value of enhanced metrics, processes, and tools for assessing progress, and the importance of connecting equity initiatives with concrete business outcomes."Equity must be a business initiative with business value and business impact," one participant said.
Maria Colacurcio, CEO of Syndio, said,"Workplace equity isn’t a checkbox – it’s the heartbeat of a successful organization. Boards need to be the fearless champions pushing for progress, empowering HR leaders to embrace data, help leadership ensure accountability, and reframe this work as a business imperative." She added,"Top talent is looking for equitable pay and opportunity, and it’s what regulators are requiring. Now is the time for boards to ensure commitments evolve into action, because the organizations that fail risk being left behind. Those that lead through this change, however, become the architects of a more inclusive – and prosperous – future."
Board leadership is essential for overcoming fear and resistance, while ensuring full integration of equity into business strategies. "Board pressure is a good way to motivate the executive team," said one director. While boards are committed to advancing workplace equity, they may lack the information and tools they need to make informed decisions and provide meaningful challenge to management."In the next 50 years, we will have five generations in the workforce, driven by global shifts in age, race, immigration, disabilities, gender, religion, and identity. Businesses cannot thrive without inclusive talent pathways," said Marsha Ershaghi Hames, Managing Director, Tapestry Networks.
The report unpacks several key findings, including:
- Courageous board leadership is required to advance workplace equity in the face of social and political headwinds.
- Tying equity initiatives more concretely to business objectives gives drives organizational commitment and overcomes resistance.
- Boards and leadership teams may need to develop a common language to define, investigate, and advance workplace equity.
- Oversight frameworks informed by data-driven metrics bring more clarity to oversight, enabling boards to define goals, benchmark their progress, and recognize areas of opportunity.
- Board and leadership diversity continue to play a material role in promoting commitment to equity values, goals, and progress.
The full report Advancing Workplace Equity from the Boardroom can be downloaded here.
About Tapestry Networks
Tapestry Networks brings world-class leaders together to tackle complex challenges and promote positive change through the power of connected thinking.
About Syndio
Syndio provides technology and expert guidance that helps companies measure, achieve, and sustain all facets of workplace equity. More than 200 companies, including 30% of Fortune’s Most Admired Companies, rely on Syndio’s Workplace Equity Analytics Platform to close pay and opportunity gaps, mitigate legal risk, and turn DE&I goals into tangible results.
Media Relations Contact:
Marsha Ershaghi Hames
SOURCE: Tapestry Networks
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